Gambling Correlations

GAMB Stock

USD 13.33 0.85 6.81%

The current 90-days correlation between Gambling Group and Codere Online Corp is 0.28 (i.e., Modest diversification). The correlation of Gambling is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Gambling Correlation With Market

Good diversification

The correlation between Gambling Group and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gambling Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gambling Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Gambling Stock

0.75	XPOF	Xponential Fitness	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.73	FNKO	Funko Inc	Pair Corr
0.74	FORD	Forward Industries	Pair Corr
0.87	JAKK	JAKKS Pacific	Pair Corr
0.61	PRPL	Purple Innovation	Pair Corr

Moving against Gambling Stock

0.61	HII	Huntington Ingalls	Pair Corr
0.56	RTMVF	Rightmove plc	Pair Corr
0.49	ZBH	Zimmer Biomet Holdings	Pair Corr
0.48	MFON	Mobivity Holdings	Pair Corr
0.39	CDUAF	Canadian Utilities	Pair Corr
0.38	TCTZF	Tencent Holdings Downward Rally	Pair Corr
0.34	DNCVF	Defiance Silver Corp	Pair Corr
0.34	INVX	Innovex International, Symbol Change	Pair Corr
0.34	GORO	Gold Resource	Pair Corr
0.32	CBYDF	Corby Spirit	Pair Corr

Related Correlations Analysis

	CDRO	ACEL	AGS	CPHC	LNW	EVRI	INSE	IGT	PMKRF
CDRO		0.45	0.43	-0.08	0.73	0.66	0.59	0.37	0.0	CDRO
ACEL	0.45		0.19	0.25	-0.02	0.4	0.83	0.21	0.0	ACEL
AGS	0.43	0.19		0.01	0.64	0.87	0.6	-0.16	0.0	AGS
CPHC	-0.08	0.25	0.01		-0.26	0.19	0.34	-0.09	0.0	CPHC
LNW	0.73	-0.02	0.64	-0.26		0.7	0.35	0.36	0.0	LNW
EVRI	0.66	0.4	0.87	0.19	0.7		0.76	0.1	0.0	EVRI
INSE	0.59	0.83	0.6	0.34	0.35	0.76		0.17	0.0	INSE
IGT	0.37	0.21	-0.16	-0.09	0.36	0.1	0.17		0.0	IGT
PMKRF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PMKRF
	CDRO	ACEL	AGS	CPHC	LNW	EVRI	INSE	IGT	PMKRF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

EVRI	+ 0.87	AGS
INSE	+ 0.83	ACEL
INSE	+ 0.76	EVRI
LNW	+ 0.73	CDRO
EVRI	+ 0.7	LNW
EVRI	+ 0.66	CDRO

High negative correlations

LNW	- 0.26	CPHC
IGT	- 0.16	AGS
IGT	- 0.09	CPHC
CPHC	- 0.08	CDRO
LNW	- 0.02	ACEL
PMKRF	- 0.0	IGT

Risk-Adjusted Indicators

There is a big difference between Gambling Stock performing well and Gambling Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Gambling's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CDRO	2.27	0.09	0.05	0.17	2.71	(2.59)	4.59	(4.55)	20.10
ACEL	1.44	(0.18)	0.00	(0.31)	0.00	0.00	2.90	(3.22)	12.11
AGS	0.24	0.08	0.46	2.12	0.00	(0.31)	0.52	(0.35)	2.38
CPHC	1.61	(0.08)	0.00	(0.27)	0.00	0.00	2.81	(3.22)	13.61
LNW	1.57	0.26	0.14	0.18	1.67	(1.81)	4.28	(3.06)	15.12
EVRI	0.15	0.02	0.40	0.22	0.09	(0.17)	0.30	(0.22)	1.32
INSE	2.03	0.15	0.03	0.02	3.04	(1.89)	5.02	(6.00)	15.56
IGT	1.29	(0.08)	0.00	(0.20)	0.00	0.00	2.06	(2.32)	6.57
PMKRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Gambling Corporate Management

Max Bichsel	Executive America	Profile
Ellen Monaghan	Senior People	Profile
Peter McGough	Vice Relations	Profile
Derek Brookmeyer	Director Communications	Profile
Charles Gillespie	CEO CoFounder	Profile
Kevin McCrystle	CoFounder COO	Profile

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